News and Information from Bond Buyer

Seeking to lock in savings offered in the current market, Wisconsin took a step into new terrain last month by entering into a loan agreement with JPMorgan that will refund $278 million of debt next year.

Standard & Poor's is urging municipal bond issuers to fully disclose their bank loans and other alternative financings, warning these potentially carry considerable credit risk.

In a day marked by slow trading and a lack of substantial new issuance, municipal market participants on Tuesday focused their attention to a conference call by the Government Development Bank of Puerto Rico.

The Internal Revenue Service is auditing $51 million of general obligation bonds issued by Garfield School District, No. RE-2 in Colorado in 2006.

Moody's revised its outlook on Lancaster County, Pa.'s general obligation bonds.

Moody's Investors Service said it has upgraded to Ba3 from Caa3 the rating on Jefferson County, Ala.'s $89.6 million in outstanding Series 2003-A and 2004-A general obligation limited tax debt, to B1 from Ca the rating on $78.4 million in outstanding lease revenue warrants issued through the Jefferson County Public Building Authority and to Ba3 from B3 the rating on $726 million in outstanding limited obligation school warrants.

A California appeals court has agreed to fast track review of a lower court's decision that prevents the state from issuing $8.6 billion in bonds for its high-speed rail project.

Fitch Ratings said it has downgraded the rating on $8.7 billion of Puerto Rico Electric Power Authority (PREPA) power revenue bonds to BB-plus from BBB-minus.

Seven firms have been ordered to pay a total of $68,500 in fines and $16,088 in restitution for municipal trade, disclosure, pricing and supervisory violations, according to the Financial Industry Regulatory Authority's monthly disciplinary actions released Tuesday.

The benefits of stimulus spending on transportation infrastructure during economic downturns outweigh the initial cost, the Transportation Research Board says.

Rhode Island may have come out ahead in the proposed settlement to union-backed lawsuits challenging the state's landmark 2011 pension overhaul law, assuming it clears some remaining hurdles.

Municipal bond traders trudged along Tuesday afternoon as activity was muted ahead of a Puerto Rico conference call.

Michigan Gov. Rick Snyder's proposed 2015 budget bodes well for the state's struggling local governments, Moody's Investors Service said Tuesday.

Standard & Poor's Ratings Services said it raised its long-term rating to A-plus from A on Metropolitan Transportation Authority (MTA), N.Y.'s transportation revenue bonds outstanding.

The municipal market crept into the week Tuesday morning following a three-day weekend and light trading activity on Friday.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were lower, as the three-months incurred a 0.050% high rate, off from 0.095% the prior week, and the six-months incurred a 0.075% high rate, down from 0.110% the week before.

The Treasury Department said Tuesday it will sell $32 billion of four-week discount bills Wednesday.

Detroit's Cobo Hall, the riverfront convention center that a few years ago struggled to survive, is now touting itself as a model of regional cooperation that the bankrupt city can replicate as it tries to rebuild itself after bankruptcy.

The Treasury Department resumed sales of state and local government series securities on Tuesday at noon, Eastern Standard Time.

Builders' confidence in the market for new single-family homes fell as the National Association of Home Builders' housing market index slumped to 46 in February from 56 in January.